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Chryso's Intraday Forex Journal and Open Discussions
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17-09-2009 4:25pm#1Good afternoon fellow Irish Investors :pac:
I am a full time trader who trades usually the Forex markets and the Mini-Dow. The purpose of this journal is simple, I have created a new intraday Forex method which consumes a lot of my time, is pretty aggressive and requires serious discipline, hopefully keeping this journal will inspire me to keep my discipline in check. I withdrew funds from a main account to a new account specifically to trade this method around three weeks ago and it all seems to be going well so far (Probably due to the volatility increase after those boring summer months ago. but I digress)
Also, if there are other Irish Forex traders (Or any other type of intraday traders really lol) who want to talk/discuss/analyze/generally talk rubbish (:pac:) then feel free to do so.
I don't think there are too many of us out there
and as we all know this is an immensely boring job 
.
Each days post will probably occur at the end of sessions/end of the and will look something like :
Total Time:
Winning Trades:
Losing Trades:
Account Balance Change Percentage:
Open Positions:
I will probably end up updating this post with results over the coming weeks/months also.
Starting off my risk is pretty small, but as I gain confidence in this particular method I will increase it. I reckon I could quadrouple and keep worst case scenario drawdown relatively low.
Hmmm Relatively . . .
Take Care and Good Trading/Investing to all,
Chrysostomos0
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Too tired to post yesterday, just needed to sleep so bad. Alright so yesterday I was faced with the filthy remnants of a bad day on Friday (With a few very ropey open position) Let's see how they turned out :
Open Positions: >>>> As of right now (Tuesday):
Hedged EURJPY (-.36%) >>>> OPEN Hedged (-.78%)
Hedged USDCAD (-.61%) >>>> OPEN Short (-.80%)
Hedged USDJPY (-.59%) >>>> CLOSED went long (+.64%)
Short EURUSD (+.10%) >>>> CLOSED turned into a win (+.67%)
Short GBPUSD (+19%) >>>> CLOSED turned into a win (+.24%)
EURJPY and USDCAD are still open losing positions here as I type this on tuesday and are still a serious pain in the ass. Somebody in the big firms would want to turn their Trading Robots into overdrive so we can get some movement around here. :pac:
Monday 21st September
Total Time: About fourteen hours or so.
Winning Trades: 4
Losing Trades: 8
Account Balance Change: +1.92%
Open Positions:
Hedged EURUSD (-.23%)
Hedged EURJPY (-78%)
Hedged USDCAD (-.80%)
Long GBPUSD (Around BE)
Comment:
Yesterday was a quite enough day, nothing major happening around on many pairs, I apparently cannot get a strong entry on EURJPY to save my life (boo!) I was hard done by on a USDCAD long which was hovering in at around +.20 for a while before coming back down
. AUDUSD short was probably the trade of the day around seven in the morning, nothing I like more than getting some nice winners in early in the day (Before 9AM always feels good)
Chrysostomos :cool:0 -
Tuesday 22nd September
Total Time: About sixteen hours today.
Winning Trades: 4
Losing Trades: 2 (:pac:)
Account Balance Change: +1.89
Open Positions:
Hedged EURJPY (-78%)(Still hedged since yesterday, no trades)
Short USDCAD (-1.21%)(:()
Hedged GBPUSD (-.1%)
Comment
This USDCAD trade is an official nightmare, I initiated this trade on the 16th. So that will tell you how long am staring at it, if this short does not work out I will end up closing it out as a loss, as per my money management rules.
EURJPY is also a pain as well, just no action on this pair for this particular system. As for everything else it was a boring enough day with few trading opportunities, my four winners actually were entered at around 8AM or so this morning within an hour of each other :pac:, and that was it for the rest of the day trading wise.
EURUSD now clearly in an uptrend but it's currently looking to get past some historic resistance, after returning to the .61Fib for buyers. Madness really, I expect big profit taking at 1.50 if we get there, we are also due a consolidation for a while after all this good action, but hey, I or my methods can't complain as this volatility suits this current system down to the ground.
Chrysostomos :cool:0 -
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(Too tired to post yesterday evening so double post for tonight)
Wednesday 23rd September
Total Time: About four hours
Winning Trades: 1
Losing Trades: 4
Account Balance Change: -2.5% (:p)
Open Positions:
Long USDJPY (0.25%)
Hedged AUDUSD (-0.12)
Short EURJPY (+.10)
Hedged GBPUSD (BE)
Hedged USDCAD (+0.10)
Comment
After trying to get rid of those awful USDCAD and EURJPY positions, I ended up closing a full loss on them both. Hence the awful down day, I hate news days, interest rate days, NFP Fridays. Interest rate day . . . Hated it !
Thursday 24th September
Total Time: About ten hours or so . .
Winning Trades: 4
Losing Trades: 22
Account Balance Change: +.36%
Open Positions:
Hedged GBPUSD (-0.09%)
Short EURJPY (BE)
USDCAD (-0.3%)
Comment
Decent enough day today following a harsh losing day yesterday, I took a major MAJOR loss on GBPUSD. . But my other winners made up for it so not too bad for the day. That loser made the difference between a marginal up day and a huge winner day.0 -
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Hey everyone, apologies for the delay I actually went for a short break this weekend and had to rush off Friday.Raskolnikov wrote: »Who are you placing your trades with? I had a look at currency trading before, and while I found I was right more often than I was wrong (I merely followed trends), the margins meant I ended up making nothing. Have to tip my hat off to you if you're making day trading pay.
I still do make an occasional play on the long-term forex markets. When the AUD was clearly moving upwards against the USD, I jumped on the banwagon. At the moment though, I'm looking to reverse that position, but would like to see a reversal of the trend and even go short the AUD vis-a-vis the USD.
Hey there Raskolnikov, glad to see your post
The account I use for this method is Alpari UK (As I need to be able to hedge on the same account, using two accounts wont cut it), because of the stupid new rules for American brokers their spreads are only ok but are pretty fixed. I also use MBTrading, Oanda, and Dukascopy for some accounts. I recommend all of them to be honest.
Yeah I know what you mean, I HONESTLY think the Forex markets are some of the most trendy markets out there, It's just a big trend under a cloak of volatility, literally all my trading systems are about trend trading on a given timeframe, this particular trading system is on the 1Min charts.
Thats some nice trading on the AUSUSD, I remember having some nice Daily timeframe trades on that pair this year, been one of the more well behaved pairs. I am currently flat AUDUSD on my long term accounts, it's facing some historical resistance at the moment and looking a bit sideways for the past few days . . . , but I would still be looking to long it instead of shorting it . . . 8450 to .85 is an interesting area which I will be watching for when/if it comes back.
What are your own favourite markets if you don't mind me asking ?
Trade well,lucky-colm wrote: »Chrysostomos are you making money i notice that you have had mostly good days with your account balance showing positive returns with the exception of one or two days which would have wiped out 2-3 days profits, is the commission charged and deducted from these figures.
i suppose if you were returning 6.19%(as i make it) per week that would turn into 321.88% per annum which is not a bad return i suppose;)
Hey again Colm, glad to see you post again
Are my making money - yes, yes I am. Most days are good, the system is kind of complicated in money management terms, im a big fan of scaling in/scaling out/hedging (with very strict predefined rules) . . . So I am usually in floating drawdown on a Daily basis, but I usually work a lot of those open positions and trim the losers back to winners, on some pairs like EURJPY this week I just had to close it off and take the loss.
Again this is just a small account I set up around the start of September, it started at just under 5k euro, and it's compounding nicely, give me maybe . . . A year and I will put some serious money into it. It's more of a live forward test of this strategy more than anything. I still think I could quadrouple the risk on this strategy and it would be ok . . . I think I will double the risk % in the new year anyway to be honest.
It does well in days where the Daily ranges on the traded currency pairs are big, and big bodied candled days, small range days get me creamed.
I don't know about the 6.1 or whatever, consistency like that rarely, I could make 6% this week and make -3% next week, I know I have an edge on the market and over the long term I will win. 6% weekly compounded is actually a giant figure.
6.19% compounded weekly turns 5k into 113k in a year,and will turn that 113k into well over a million by year twos end, nothing is ever that clear cut in trading unfortunately.
But the important thing to note there is the power of compound interest, and the importance of being on the right side of it . . . Unlike the majority of Irish people who unfortunately spend their lives on the wrong side of it, I really don't know how fractional reserve banking is allowed to go on sometimes in society, its actual madness.0 -
Friday 25th September
Total Time: About twelve hours
Winning Trades: 4
Losing Trades: 18
Account Balance Change: -0.18%
Open Positions:
Short USDCAD (-.60%)
Hedged GBPUSD (-.57%)
Comment
Meh not much to talk about from Friday, I can't remember it now to be honest
Week Two (21st-25th September)
Winning Trades: 13
Losing Trades: 54
Account Balance Change: +1.49%
Open Positions:
Short USDCAD (-.60%)
Hedged GBPUSD (-.57%)
Comment
Actually the worst week of September to round off the month, still a positive week though with a healthy 1.49% for five days work so no complaints from me.
Running Total
(After two weeks)
Winning Trades: 30
Losing Trades: 110
Account Balance Change (Compounded week on week): +7.2%
Alright so I am well rested after the weekend, ready to return to battle tomorrow morning, hopefully a good week for this system over the coming week, I would love to see some big range days hehe.
Good trading to all,
Chrysostomos :cool:
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Chrysostomos wrote: »I don't know about the 6.1 or whatever, consistency like that rarely, I could make 6% this week and make -3% next week, I know I have an edge on the market and over the long term I will win. 6% weekly compounded is actually a giant figure.
6.19% compounded weekly turns 5k into 113k in a year,and will turn that 113k into well over a million by year twos end, nothing is ever that clear cut in trading unfortunately.
.
pity lol:D0 -
Thursday 1st September
Total Time: Sixteen hours
Closed Winning Trades: 3
Open Losing Trades: 7
Closed Losing Trades: 1
Account Balance Change: -.50%
Open Positions:
Short EURJPY (-1%)
Short USDGBP (BE)
Hedged USDJPY (-.36%)
Comment
Eventhough today was a losing day it could have gone a lot worse I reckon, I reckon my weekly percentage before tomorrow is a -.10% or so loss, which hopefully will be rectified tomorrow. Villain of the week is the USDJPY, if I had not traded the USDJPY at all this week I would be looking at around +4%, EURJPY is being a pain as well. I reckoned the USDJPY would have been bought strongly after that reversal day but I was wrong, and these inside days like today are creaming me, but I digress.
Take care :pac:
Chrysostomos :cool:0 -
lucky-colm wrote: »pity lol:D
Hmmm I know . . .
*dreams of trading on a beach somewhere*
How is your own trading/investing going Colm ? What sort of instruments are you into / strategies do you employ if you do not mind me asking ?
Trade Well !
Chrysostomos0 -
Chrysostomos wrote: »Hmmm I know . . .
*dreams of trading on a beach somewhere*
How is your own trading/investing going Colm ? What sort of instruments are you into / strategies do you employ if you do not mind me asking ?
Trade Well !
Chrysostomos
iam just a novice gambling a bit on bkir shares at the moment not making as much as i could have if i settled a bit
i also bought into a company called petroceltic they should hopefully come good over the next 12-18mths
i enjoy reading the posts on here and researching the tips that are given, ther is a good few posters on here that know there stuff
so over the next few months i might start doing a bit of day trading and looking for some long trades
i don't think forex trading would be my fortae as i would not have the knowledge of what drives one currencey against another0 -
Goddamn you USDJPY !!!
(USDJPY is the currency villain of the week which currently accounts for over twenty two losses on the run and around -4.6%)
(:mad:)
Friday 1st October
Total Time: About eight hours so far
Closed Winning Trades: 5
Open Losing Trades: 2
Closed Losing Trades: 1 (USDJPY of course ! :pac:)
Account Balance Change: +1.14%
Open Positions:
Short EURJPY (+.30%)
Comment
NFP Friday today, I usually hate NFP fridays (as they are a headache for my longer term systems) but on this system it usually helps out a bit. to be honest this was a bit of a rescue day, of course USDJPY closed as another loss but at least my EURJPY short from yesterday came good.
Hopefully some of these open positions will turn good by the end of the day also :pac:
(EDIT - And one did)
Week Three (28th September -1st October)
Winning Trades: 17
Losing Trades: 57
Account Balance Change: +1.04% (Hey at least it was positive :pac:)
Open Positions:
Short EURJPY (+.30%)
Comment
USDJPY still the villain of the week here which basically cost me a standout week, I think was it either thursday or wednesday which was the harsh day . .. I was around -3% or so with open and closed positions added together. Bad times, but hey at least the week turned profitable in the end, no complaints here, power of compounding and all that.
Running Total
(After three weeks)
Winning Trades: 48
Losing Trades: 167
Account Balance Change (Compounded week on week): +8.31%
Note - I am doubling up on my %risk starting monday.
EDITED - To Update end of day results.0 -
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Hey Chryso, finally got some time to check in on your journal and delighted to see that your kicking ass!:D I don't think anyone can argue that over 13% return in a month is anything less than stellar (especially considering your tight Money Management).
Is this based on the 1hr system we talked about before or something completely fresh from the oven?? Whatever it is, youre doing a great job buddy!
EDIT: No wonder you're killing it out there...you're trading one week into the future!!!:eek::D
Later bro...
Sup bro . . .
How did that . . .
Oh lol ! This computers date is wrong
Yeah last weeks dates are wrong lol bad times, and I cannot edit the posts, oh well.
Yeah I am happy with the results all right . . . Eventhough three weeks were at Risk profile One (Positions start off at 0.1%)
Looking at 3% or so of floating losses is a different ball game than looking at 1.5% or so. I still reckon this can go all the way up to Risk Profile 4 (Positions start off at 0.4% - but then I will be possibly looking at 6% or so of losing positions all the time . . . As you well know I hate drawdown :pac: )
Nope not the 1HR system, I still use that system on a Daily basis though and it has had a good enough past few months. This is something new I had cooking for a while. I think it's the money management side of things which gives this the real killer edge on the market. I digress. It is a harsh system to trade timewise though, other than that it is fine :pac:
How has your own trading been coming ? Any news ? I would imagine time has had a notable decrease since you returned to college ?
Best Regards,
Chryso0 -
Like you wouldn't believe man. Very little free time at all these days. Interview season and all that jazz... Tradings going great though! Up over 10% in the last two weeks. Maybe that paradox, 'less is more' was made for trading...
Drawdown... ha yeah, I always got the feeling it wasn't your favourite thing in the whole wide world... to tell the truth, I'm not its greatest fan either!:D
I'll give you a pm later tonight if you around!
Talk soon.Chrysostomos wrote: »Sup bro . . .
How did that . . .
Oh lol ! This computers date is wrong
Yeah last weeks dates are wrong lol bad times, and I cannot edit the posts, oh well.
Yeah I am happy with the results all right . . . Eventhough three weeks were at Risk profile One (Positions start off at 0.1%)
Looking at 3% or so of floating losses is a different ball game than looking at 1.5% or so. I still reckon this can go all the way up to Risk Profile 4 (Positions start off at 0.4% - but then I will be possibly looking at 6% or so of losing positions all the time . . . As you well know I hate drawdown :pac: )
Nope not the 1HR system, I still use that system on a Daily basis though and it has had a good enough past few months. This is something new I had cooking for a while. I think it's the money management side of things which gives this the real killer edge on the market. I digress. It is a harsh system to trade timewise though, other than that it is fine :pac:
How has your own trading been coming ? Any news ? I would imagine time has had a notable decrease since you returned to college ?
Best Regards,
Chryso0 -
Like you wouldn't believe man. Very little free time at all these days. Interview season and all that jazz... Tradings going great though! Up over 10% in the last two weeks. Maybe that paradox, 'less is more' was made for trading...
Drawdown... ha yeah, I always got the feeling it wasn't your favourite thing in the whole wide world... to tell the truth, I'm not its greatest fan either!:D
I'll give you a pm later tonight if you around!
Talk soon.
:eek:
10% in two weeks ? Goddamn, I gotta put you in charge of my money at that rate Rocket
Yeah drop me a PM whenever bro :pac:0 -
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